Shares of Sina Corp ($SINA) are holding green today after President Trump announced a new round of tariffs on Chinese goods and the Chinese responded with tariffs of their own. Most would expect Chinese companies to drop sharply, but Sina Corp is not. This tells us that the stock is seeing little impact from the latest round of tariffs or the negativity of the tariffs have already been factored in. Examining Sina Corp closer, the stock chart is into major, epic support and likely near/at a bottom near-term. This tells us that the stock could likely bounce sharply higher in the coming weeks. Look for an upside move back towards $80 by year end.
Gareth Soloway
InTheMoneyStocks.com
Gareth Soloway
InTheMoneyStocks.com